China chip stocks gain ground despite latest US crackdown

The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies to stymie China's ability to access and produce top-line chips. "It was not a blanket ban, or as stringent as people first feared. So that, to me, is a positive," said Tai Hui, Asia chief market strategist at JP Morgan Asset Management in Hong Kong.